Franchises follow trend of investing overseas
Seamless trading paves the way for average firms with clear business model
Already 16 Thai franchises are conducting business in 28 countries, mostly in Asean, the Middle East and Europe.
“Not only large firms can invest abroad, but also franchisers with a clear business model.
“Those spending a little capital can also succeed in the global market,” Pikul Taksiwaracharn, deputy director-general of the Business Development Department, said yesterday.
In total, 452 types of franchises show good prospects for flourishing overseas, particularly restaurants, beauty and healthcare clinics, spas and retailers, she said.
With the spread of seamless trading, small and medium-sized enterprises and franchises have more opportunities to expand overseas.
The department plans to promote more franchises to go beyond the borders. This year, about 150 companies will be trained. Of them, about 30 per cent will be developed as a franchise and will be promoted to grow overseas.
The country has 477 registered franchise businesses with 42,681 domestic branches, of which 452 franchises are owned by Thai companies with 32,265 branches and 25 owned by foreigners with 10,416 branches.
Some notable local names are Black Canyon, Neo Suki, The Coffee Maker, Sri Suwan Sukothai Noodle, Moly Care, Smart Brain, Smart English, Aromavera Spa, Bontras, Greentouch, Spa of Siam, Index Living Mall, Nobody Jean and Wongpanit.
